Reinsurance News

WTW unveils new strategy in corporate risk and broking

20th December 2022 - Author: Pete Carvill

The North American Corporate Risk and Broking (CRB) division of WTW has launched a new strategy that looks to enhance its client proposition through aligning the entire value-chain of internal resources through industry specialisation.

WTW - Willis Towers Watson logoA statement from the firm said that the new strategy brings together all WTW’s North American CRB capabilities, client services, and industry specialist knowledge through a newly integrated approach to industries. It said that the new strategy launches with an initial twelve specific industries.

Michael Chang, head of CRB for North America at WTW, said: “Having listened closely to the needs of our clients, we are thrilled to launch this enhanced industry specialization approach in North America. Industry specialization is nothing new, but the traditional broking industry approach is outdated for this market.”

He added: “This new model, aligning all WTW’s North American resources through an industry lens built around individual client risk profiles and needs, including product specialisation, data, analytics, broking, claims advocacy, service, risk control, technology and innovation, provides a truly unique client proposition. Every client deserves specialisation – whatever their size, location, or industry, they will benefit from our specialist knowledge.”

While the client’s industry sector will be the primary organising principle, the specialization model has two additional pillars that will inform WTW’s client value proposition, including insurance solutions and client segment specialists. These specialty teams, including its property and casualty, financial and professional, and surety lines of business, will both be imbedded within WTW’s industries and remain available to all clients.

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Adam Garrard, global head of risk and broking at WTW, said: “WTW has a long and proud history of providing our clients with industry specialist support. Today’s announcement is an evolution of that support to integrate the full value-chain of WTW’s North American capabilities through an industry focus, with CRB North America uniquely positioned to deliver this new and improved approach. The new industry leaders will work seamlessly with all the specialist and talented teams across Corporate Risk and Broking, both within North America and globally to ensure our clients consistently receive the very best of One WTW.”

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